The New Mexico Albuquerque Contractor Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The New Mexico Bernalillo - County Contractor's Sidewalk, Drive-Pad, Curb & Gutter Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The New Mexico City of Albuquerque Homeowner's Sidewalk, Drive-Pad, Curb & Gutter Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The New Mexico Payment of Permit Fees for Building & Safety Division Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The New Mexico Santa Fe - County Contractor's Excavation Bond starts at $145 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The New Mexico Contractor License Code Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The New Mexico Regulation and Licensing Department Construction Industries Division (CID) requires contractors to post a $10,000 surety bond as part of the licensing process to operate in the state.
The surety company issuing the bond determines your premium rate, which is the percentage of the total bond amount you pay as the premium. During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history.
EZ Surety can issue premiums for New Mexico contractor license bonds for as low as 1% of the total bond amount for applicants with standard credit. If your credit is below average, we can still offer a competitive rate for your contractors license bond.
Contractor license bonds hold licensed contractors accountable for the quality of their work and protect the public from damages they’ve incurred due to the contractor’s violation of licensing laws.
When the surety company issues the bond, they provide a financial guarantee to the state that the contractor will comply with the regulations set forth in NMSA 1978, Section 60-13-43. If the contractor violates these regulations, causing a loss to the consumer, the consumer can file a claim against the bond.
If the claim is valid, the surety company will cover the costs to repair the damage up to the amount of the bond. The contractor is then liable to reimburse the surety company for all damages paid.
To obtain your general contractor’s license in New Mexico you must meet the New Mexico CID licensing requirements by completing the following steps:
You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.
Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.
